https://www.taxtmi.com/caselaws?id=197593 The Board found in favor of the petitioner, determining that the respondents' actions constituted oppression and mismanagement. The Memorandum of Understanding (MOU) was not adhered to, and the respondents' actions were deemed prejudicial to the companies and the petitioner. Consequently, the Board set aside the increase in share capital and subsequent allotments of shares, restored the status quo ante, and upheld the petitioner's directorial complaints. The petitions were disposed of with directions to restore the status quo ante, with no order as to costs. en-us Wed, 17 Oct 2007 00:00:00 +0530 Wed, 10 Jan 2018 15:01:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197593 The Board found in favor of the petitioner, determining that the respondents' actions constituted oppression and mismanagement. The Memorandum of Understanding (MOU) was not adhered to, and the respondents' actions were deemed prejudicial to the companies and the petitioner. Consequently, the Board set aside the increase in share capital and subsequent allotments of shares, restored the status quo ante, and upheld the petitioner's directorial complaints. The petitions were disposed of with directions to restore the status quo ante, with no order as to costs. Case-Laws Companies Law Wed, 17 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197593